What is Perma-Pipe International Holdings, Inc.'s Shariah compliance score?

Perma-Pipe International Holdings, Inc. (PPIH) has a Shariah compliance score of 76/100 (Grade: B+, Good). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Perma-Pipe International Holdings, Inc. pass AAOIFI screening?

Perma-Pipe International Holdings, Inc. (PPIH) passes AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. PPIH's debt-to-market-cap is 14.7%.

How much purification is needed for Perma-Pipe International Holdings, Inc.?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Perma-Pipe International Holdings, Inc. (PPIH) using the latest financial data.

Where can I screen Perma-Pipe International Holdings, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Perma-Pipe International Holdings, Inc. (PPIH) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

PPIHHalalB+

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Is Perma-Pipe International Holdings (PPIH) Stock Halal?

Compliance Status

Halal

Screened on Nov 9, 2026 · AAOIFI Standard 21

B+

Good

76Score

Is Perma-Pipe International Holdings, Inc. (PPIH) halal? Halal. Based on AAOIFI screening, Perma-Pipe International Holdings, Inc. passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 76/100 (Grade: B+).

Quote this verdict

HalalScreener rates Perma-Pipe International Holdings, Inc. (PPIH) Halal, 76/100, grade B+ under AAOIFI Standard 21, screened Nov 9, 2026. Source: https://halalscreener.app/en/stock/PPIH

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

14.7% of 30.0% limit

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The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

You can own PPIH

It passes both the business activity and financial ratio screens under AAOIFI Standard 21.

Purification amount is Pro

We have screened PPIH's prohibited income, but the exact share you would need to purify is part of Pro.

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PPIH

Perma-Pipe International Holdings, Inc.

NASDAQIndustrialsUS

$28.97

Market Cap: 237.4M

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About Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc., along with its subsidiaries, specializes in the engineering, design, manufacturing, and sale of specialized piping and leak detection solutions. Its product portfolio includes jacketed district heating and cooling pipeline systems, facilitating energy distribution from centralized power plants to diverse destinations. The company also provides primary and secondary containment piping systems, crucial for the secure transport of chemicals, hazardous liquids, and petroleum products. Additionally, Perma-Pipe undertakes the coating and insulation of oil and gas gathering and transmission pipelines. They offer liquid and powder-based anti-corrosion coatings for both the exterior and interior surfaces of steel pipes, including complex components like bends, reducers, tees, and various spools/fittings, which are utilized in pipelines for conveying oil and gas products as well as potable water. Maintaining a global presence, the company operates across the United States, Canada, the Middle East, Europe, India, and other international markets. Incorporated in 1993, the entity was formerly known as MFRI, Inc. before adopting the name Perma-Pipe International Holdings, Inc. in March 2017. Its corporate headquarters are situated in Niles, Illinois.

Sector: Industrials · Industry: Industrial - Machinery

Shariah Compliance Status

AAOIFI Standard 21Updated Nov 9, 2026

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Revenue BreakdownProSee plans

Compliance History

Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q2 2027Data source: EDGAR

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Frequently Asked Questions

Is Perma-Pipe International Holdings, Inc. (PPIH) halal to invest in?

Based on AAOIFI Standard 21 screening, Perma-Pipe International Holdings, Inc. (PPIH) is rated Halal with a compliance grade of B+ (Good). It passes both the business activity screen (no primary involvement in prohibited sectors) and the quantitative financial ratio screen (debt, interest deposits, and prohibited income all below AAOIFI thresholds).

Why did Perma-Pipe International Holdings, Inc. get a B+ compliance rating?

Perma-Pipe International Holdings, Inc. (PPIH) received a grade of B+ (Good) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 14.7% (limit 30%); interest-bearing deposits well clear of the 30% limit; prohibited income well clear of the 5% limit. The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Perma-Pipe International Holdings, Inc.'s Shariah verdict?

Perma-Pipe International Holdings, Inc.'s verdict is recalculated at every re-screen, including the one that follows each new quarterly or annual report. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Perma-Pipe International Holdings, Inc. re-screened for Shariah compliance?

Perma-Pipe International Holdings, Inc. (PPIH) is screened from the latest financial statements on record, currently those for fiscal Q2 2027. The 500 largest US-listed companies, and every stock on a HalalScreener watchlist or portfolio, are re-screened daily against the current market cap; every other stock at least once a week. When the company files a new quarterly or annual report with the SEC, it is re-screened from that filing: we check the SEC's filing feed every 15 minutes and the earnings calendar every day. Last screened: Nov 9, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.